43 Pubs Code: market rent only option
Small Business, Enterprise and Employment Act 2015 (2015 c 26) | Legislation

43  Pubs Code: market rent only option

(1)     The Pubs Code must require pub-owning businesses to offer their tied pub tenants falling within section 70(1)(a) a market rent only option in specified circumstances.

(2)     A “market rent only option” means the option for the tied pub tenant—

(a)     to occupy the tied pub under a tenancy or licence which is MRO-compliant, and

(b)     to pay in respect of that occupation—

(i)     such rent as may be agreed between the pub-owning business and the tied pub tenant in accordance with the MRO procedure (see section 44), or

(ii)     failing such agreement, the market rent.

(3)     The Pubs Code may specify—

(a)     circumstances in which a market rent only option must or may be an option to occupy under a tenancy;

(b)     circumstances in which a market rent only option must or may be an option to occupy under a licence.

(4)

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